CMA - Bottom Within ChannelI have drawn a large channel in solid white
this is accompanied by a triangle structure but more importantly it as a double bottom for price
I have shown this double bottom with a bars pattern along the lower line of the triangle
This is where I think price will turn a recovery
CMA
Bearish divergence on CMA Daily and 4HWeekly (not shown):
Possible bearish divergence coming up. Impulse still green, but is shows prices around 101 were rejected and price closed much lower.
MACD-Histogram still rising, as well as EFI. sRSI declining, although it could cross.
Daily
Bearish divergence on MACD-H, MACD lines, EFI and even Stochastic RSI. Stoch RSI crossed bearish and comes from an overbough condition. Even an ATR channel divergence. Current bar shows an upwick and rejected the to close around the 101$ resistance
4H
Bearish divergence again on ATR lines, MACD-H and MACD lines, and EFI. sRSI is bearish and is declining.
Entry:
At this level, but first we need to see how the weekly opens.
98-99,5
Stop:
102
Target 1: 94,46
Target 2: 92,88
CMA is approaching resistnace, potential drop! CMA is approaching our first resistance at 88.30 (Horizontal pullback resistance, 61.8% Fiboancci extension, 61.8% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 76.33 (50% fibonacci retracement, 61.8 %Fibonacci extension).
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
CMA Approaching resistance, potential drop! CMA is approaching our first resistance at 88.30 (horizontal pullback resistance, 50% Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 76.33 (50% Fibonacci retracement, 61.8% Fibonacci extension).
Stochastic (55,5,3) is also approaching resistance where we might see a corresponding drop in price.
CMA approaching resistance, potential drop! CMA is approaching our first resistance at 88.25 (horizontal pullback resistance, 61.8% Fibonacci extension, 61.8% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 76.02 (horizontal swing low support 50% Fibonacci retracement).
RSI (55) is also approaching resistance where we might be seeing a drop below this level.
Possibility of Zigzag correction (USDCHF)Hi, Traders
Looking for zigzag correction because first A" has clear 5 waves. it may also be complex pattern.
But overall usdchf is bullish so we have to wait for proper pullback.
Note: This is mere a idea not a trading signal to trade. Trade carefully !
Thank you for your support !
Big move to the downside(If breakout happened) (GBPCHF)Hi, Traders
looking for a big move to the downside if breakout happened. this pair has both side opportunity buy and sell but most considerable trade is downside if anybody wants to take trade upside, take carefully.
If breakout does not happen and market moves to the upside then look for one more impulse(wait for small correction for taking long position) because of three wave corrective structure.
Take a short entry to the first pink level(Because of 3 wave formation) after breakout then go for last one.
Note: This is mere a idea not a trading signal to trade. Trade carefully !
Thank you for your support !
Strong Rally on the way (EURGBP)Hi, Traders
Market developed a corrective structure which almost completed. another possibilty is that it can go down for one more dip (But not necessary).
i will update the chart if any changes occure.
Note: This is mere a idea not a trading signal to trade. Trade carefully !
Thank you for your support !
Impulse about to come (CADCHF)Hi, Traders
As i am observing on the chart that first price may go upside to prescribed level then impulse will come into play.
lets see how it moves ,i will update chart if any changes occure.
Note: This is mere a idea not a trading signal to trade. Trade carefully !
Thank you for your support !
Market moving under a complex correction(NZDJPY)Hi, Traders
As i am observing that market under a complex corrective structure it may be abc correction or it will go all the way to upside.but there is a lot of possibility of selloff from c'' wave.
Note: This is mere a idea not a trading signal to trade. Trade carefully !
Thank you for your support
Regular Flat pattern (GOLD)Hi, Traders
Now XAUUSD is showing a small flat pattern which gives us a chance to buy to the pink level.when trade comes in profit then move your s/l to the breakeven because breakout may be occure.
Note: This is mere a idea not a trading signal to trade. Trade carefully !
Thank you for your support !
Moving for 4th wave or Breakout??(EURJPY)Hi, Traders
Market moving for 4th wave if breakout happens then we have to wait for proper 3 wave correction and look for long position, if not happens then look for sell after a correction.
Note: This is mere a idea not a trading signal to trade. Trade carefully !
Thank you for your support !
Wave ending with ending diagonal (EURUSD)Hi,Traders
This is the 3rd wave which almost ended and already made ending diagonal. this currency pair is going in correction to the prescribed level.
But in longer term it is still bearish.
Note: This is mere a idea not a trading signal to trade. Trade carefully !
Thank you for your support !
Wave ending with expanded diagonal (DXY)Hi, Traders
Dollar index is going in correction because this is end of 3rd wave. Possible correction will be between these ratio 21.40% t0 38.20%
lets see how it goes!
Note: This is mere a idea not a trading signal to trade. Trade carefully !
Thank you for your support !
Be Aware while Buying euro!!Hi, Traders
As we see the previous selloff considering that, this pullback is working as a corrective structure.
Potential side is downward but we can buy for some pips with good money managment or wait for correction end.
Note: This is mere a idea not a trading signal to trade. Trade carefully !
Thank you for your support !